STOCK TITAN

[Form 4] Chipotle Mexican Grill, Inc. Insider Trading Activity

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

Chipotle Mexican Grill (CMG) has filed a Form 4 disclosing that President, Chief Strategy & Technology Officer Curtis E. Garner sold 15,750 common shares on 07/07/2025 at a weighted-average price of $56.3243, for gross proceeds of roughly $0.89 million. The filing shows no derivative transactions and does not indicate that the trade was executed under a Rule 10b5-1 plan. Following the sale, the executive’s direct ownership stands at 339,732 shares, implying the divestiture represents about 4.4 % of his post-transaction holdings. The Form was signed on 07/08/2025.

While insider sales can simply reflect personal liquidity needs, they sometimes signal management’s view on valuation. Investors may note the relatively small percentage sold and the executive’s continued sizeable stake.

Chipotle Mexican Grill (CMG) ha presentato un Modulo 4 che rivela che il Presidente, Chief Strategy & Technology Officer Curtis E. Garner ha venduto 15.750 azioni ordinarie il 07/07/2025 a un prezzo medio ponderato di 56,3243 $, per un ricavo lordo di circa 0,89 milioni di $. La comunicazione non mostra transazioni derivati e non indica che la vendita sia stata effettuata nell’ambito di un piano Rule 10b5-1. Dopo la vendita, la proprietà diretta dell’esecutivo è di 339.732 azioni, il che implica che la cessione rappresenta circa il 4,4% delle sue partecipazioni post-transazione. Il modulo è stato firmato il 08/07/2025.

Le vendite interne possono semplicemente riflettere esigenze di liquidità personale, ma a volte segnalano la valutazione che la direzione ha del titolo. Gli investitori potrebbero notare la percentuale relativamente bassa venduta e la consistente partecipazione ancora detenuta dall’esecutivo.

Chipotle Mexican Grill (CMG) presentó un Formulario 4 que revela que el Presidente, Director de Estrategia y Tecnología Curtis E. Garner vendió 15,750 acciones comunes el 07/07/2025 a un precio promedio ponderado de $56.3243, obteniendo ingresos brutos de aproximadamente $0.89 millones. El documento no muestra transacciones derivadas ni indica que la operación se haya realizado bajo un plan Rule 10b5-1. Tras la venta, la propiedad directa del ejecutivo es de 339,732 acciones, lo que implica que la desinversión representa alrededor del 4.4% de sus tenencias posteriores a la transacción. El formulario fue firmado el 08/07/2025.

Las ventas internas pueden reflejar simplemente necesidades personales de liquidez, pero a veces indican la opinión de la dirección sobre la valoración. Los inversores pueden observar el porcentaje relativamente pequeño vendido y la considerable participación que el ejecutivo mantiene.

Chipotle Mexican Grill(CMG)는 Curtis E. Garner 사장 겸 최고 전략 및 기술 책임자가 2025년 7월 7일15,750주의 보통주를 주당 평균 $56.3243에 매도하여 총 약 의 매출을 올렸음을 공개하는 Form 4를 제출했습니다. 해당 신고서에는 파생상품 거래가 없으며, 이 거래가 Rule 10b5-1 계획에 따른 것임을 나타내지 않습니다. 매도 후 임원의 직접 보유 주식은 339,732주로, 이번 매각이 거래 후 보유 주식의 약 4.4%에 해당함을 의미합니다. 해당 서류는 2025년 7월 8일에 서명되었습니다.

내부자 매도는 단순히 개인의 유동성 필요를 반영할 수 있지만, 때로는 경영진이 주식 가치를 어떻게 평가하는지를 나타내기도 합니다. 투자자들은 매도한 비율이 비교적 적고 임원이 여전히 상당한 지분을 보유하고 있다는 점에 주목할 수 있습니다.

Chipotle Mexican Grill (CMG) a déposé un formulaire 4 révélant que le Président, Directeur de la Stratégie et de la Technologie Curtis E. Garner a vendu 15 750 actions ordinaires le 07/07/2025 à un prix moyen pondéré de 56,3243 $, pour un produit brut d’environ 0,89 million de $. Le dépôt ne montre aucune transaction dérivée et n’indique pas que la vente ait été réalisée dans le cadre d’un plan Rule 10b5-1. Après la vente, la détention directe de l’exécutif s’élève à 339 732 actions, ce qui implique que la cession représente environ 4,4 % de ses avoirs post-transaction. Le formulaire a été signé le 08/07/2025.

Les ventes d’initiés peuvent simplement refléter des besoins de liquidité personnels, mais elles signalent parfois la perception de la direction sur la valorisation. Les investisseurs peuvent noter le pourcentage relativement faible vendu ainsi que la participation importante toujours détenue par l’exécutif.

Chipotle Mexican Grill (CMG) hat ein Formular 4 eingereicht, das offenlegt, dass Präsident und Chief Strategy & Technology Officer Curtis E. Garner am 07.07.2025 15.750 Stammaktien zu einem gewichteten Durchschnittspreis von 56,3243 $ verkauft hat, was einen Bruttoerlös von etwa 0,89 Millionen $ ergibt. Die Meldung zeigt keine Derivatgeschäfte und weist nicht darauf hin, dass der Handel im Rahmen eines Rule 10b5-1 Plans durchgeführt wurde. Nach dem Verkauf hält der Manager direkt 339.732 Aktien, was bedeutet, dass der Verkauf etwa 4,4 % seines Bestands nach der Transaktion ausmacht. Das Formular wurde am 08.07.2025 unterzeichnet.

Insider-Verkäufe können einfach persönliche Liquiditätsbedürfnisse widerspiegeln, manchmal signalisieren sie jedoch auch die Einschätzung des Managements zur Bewertung. Investoren könnten die relativ geringe verkaufte Prozentzahl und den weiterhin erheblichen Anteil des Managers beachten.

Positive
  • Executive retains 339,732 shares, indicating continued meaningful equity alignment with shareholders.
  • Sale represents only ~4.4 % of pre-transaction stake, limiting dilution of insider ownership.
Negative
  • Insider sold 15,750 shares worth about $0.89 million, which some investors may view as a mild negative signal.
  • No Rule 10b5-1 plan indicated, potentially increasing perception of discretionary timing.

Insights

TL;DR: Modest insider sale (~4 % of holdings); limited immediate impact.

The transaction totals under $1 million and leaves Mr. Garner with more than 339k shares, suggesting continued alignment with shareholders. The lack of a 10b5-1 designation could raise minor sentiment questions, but the scale of the sale is immaterial relative to CMG’s market capitalization. I view the filing as routine insider profit-taking rather than a strategic signal.

TL;DR: Routine Form 4; governance implications minimal.

The disclosure meets Section 16 requirements, contains a weighted-average price breakdown pledge, and was filed promptly. No control or ownership-threshold changes occur, and there is no indication of derivative hedging. From a governance standpoint, this is standard compliance with negligible risk impact.

Chipotle Mexican Grill (CMG) ha presentato un Modulo 4 che rivela che il Presidente, Chief Strategy & Technology Officer Curtis E. Garner ha venduto 15.750 azioni ordinarie il 07/07/2025 a un prezzo medio ponderato di 56,3243 $, per un ricavo lordo di circa 0,89 milioni di $. La comunicazione non mostra transazioni derivati e non indica che la vendita sia stata effettuata nell’ambito di un piano Rule 10b5-1. Dopo la vendita, la proprietà diretta dell’esecutivo è di 339.732 azioni, il che implica che la cessione rappresenta circa il 4,4% delle sue partecipazioni post-transazione. Il modulo è stato firmato il 08/07/2025.

Le vendite interne possono semplicemente riflettere esigenze di liquidità personale, ma a volte segnalano la valutazione che la direzione ha del titolo. Gli investitori potrebbero notare la percentuale relativamente bassa venduta e la consistente partecipazione ancora detenuta dall’esecutivo.

Chipotle Mexican Grill (CMG) presentó un Formulario 4 que revela que el Presidente, Director de Estrategia y Tecnología Curtis E. Garner vendió 15,750 acciones comunes el 07/07/2025 a un precio promedio ponderado de $56.3243, obteniendo ingresos brutos de aproximadamente $0.89 millones. El documento no muestra transacciones derivadas ni indica que la operación se haya realizado bajo un plan Rule 10b5-1. Tras la venta, la propiedad directa del ejecutivo es de 339,732 acciones, lo que implica que la desinversión representa alrededor del 4.4% de sus tenencias posteriores a la transacción. El formulario fue firmado el 08/07/2025.

Las ventas internas pueden reflejar simplemente necesidades personales de liquidez, pero a veces indican la opinión de la dirección sobre la valoración. Los inversores pueden observar el porcentaje relativamente pequeño vendido y la considerable participación que el ejecutivo mantiene.

Chipotle Mexican Grill(CMG)는 Curtis E. Garner 사장 겸 최고 전략 및 기술 책임자가 2025년 7월 7일15,750주의 보통주를 주당 평균 $56.3243에 매도하여 총 약 의 매출을 올렸음을 공개하는 Form 4를 제출했습니다. 해당 신고서에는 파생상품 거래가 없으며, 이 거래가 Rule 10b5-1 계획에 따른 것임을 나타내지 않습니다. 매도 후 임원의 직접 보유 주식은 339,732주로, 이번 매각이 거래 후 보유 주식의 약 4.4%에 해당함을 의미합니다. 해당 서류는 2025년 7월 8일에 서명되었습니다.

내부자 매도는 단순히 개인의 유동성 필요를 반영할 수 있지만, 때로는 경영진이 주식 가치를 어떻게 평가하는지를 나타내기도 합니다. 투자자들은 매도한 비율이 비교적 적고 임원이 여전히 상당한 지분을 보유하고 있다는 점에 주목할 수 있습니다.

Chipotle Mexican Grill (CMG) a déposé un formulaire 4 révélant que le Président, Directeur de la Stratégie et de la Technologie Curtis E. Garner a vendu 15 750 actions ordinaires le 07/07/2025 à un prix moyen pondéré de 56,3243 $, pour un produit brut d’environ 0,89 million de $. Le dépôt ne montre aucune transaction dérivée et n’indique pas que la vente ait été réalisée dans le cadre d’un plan Rule 10b5-1. Après la vente, la détention directe de l’exécutif s’élève à 339 732 actions, ce qui implique que la cession représente environ 4,4 % de ses avoirs post-transaction. Le formulaire a été signé le 08/07/2025.

Les ventes d’initiés peuvent simplement refléter des besoins de liquidité personnels, mais elles signalent parfois la perception de la direction sur la valorisation. Les investisseurs peuvent noter le pourcentage relativement faible vendu ainsi que la participation importante toujours détenue par l’exécutif.

Chipotle Mexican Grill (CMG) hat ein Formular 4 eingereicht, das offenlegt, dass Präsident und Chief Strategy & Technology Officer Curtis E. Garner am 07.07.2025 15.750 Stammaktien zu einem gewichteten Durchschnittspreis von 56,3243 $ verkauft hat, was einen Bruttoerlös von etwa 0,89 Millionen $ ergibt. Die Meldung zeigt keine Derivatgeschäfte und weist nicht darauf hin, dass der Handel im Rahmen eines Rule 10b5-1 Plans durchgeführt wurde. Nach dem Verkauf hält der Manager direkt 339.732 Aktien, was bedeutet, dass der Verkauf etwa 4,4 % seines Bestands nach der Transaktion ausmacht. Das Formular wurde am 08.07.2025 unterzeichnet.

Insider-Verkäufe können einfach persönliche Liquiditätsbedürfnisse widerspiegeln, manchmal signalisieren sie jedoch auch die Einschätzung des Managements zur Bewertung. Investoren könnten die relativ geringe verkaufte Prozentzahl und den weiterhin erheblichen Anteil des Managers beachten.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Garner Curtis E

(Last) (First) (Middle)
C/O CHIPOTLE MEXICAN GRILL, INC.
610 NEWPORT CENTER DRIVE

(Street)
NEWPORT BEACH CA 92660

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
CHIPOTLE MEXICAN GRILL INC [ CMG ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Pres, Chief Strgy & Tech Off
3. Date of Earliest Transaction (Month/Day/Year)
07/07/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
common stock 07/07/2025 S 15,750 D $56.3243(1) 339,732 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Reflects a weighted-average price. Actual sales prices ranged from $55.89 to $56.69 per share. For each transaction on this Form 4 that is reported at a weighted average price, the reporting person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price.
/s/ Helen Kaminski, pursuant to power of attorney previously filed 07/08/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many CMG shares did Curtis E. Garner sell?

He sold 15,750 common shares on 07/07/2025.

What was the average sale price reported in the CMG Form 4?

The weighted-average sale price was $56.3243 per share (prices ranged $55.89–$56.69).

How many CMG shares does the executive still own after the sale?

Mr. Garner now directly owns 339,732 CMG shares.

Was the CMG insider sale executed under a Rule 10b5-1 plan?

The filing does not mark the checkbox indicating a Rule 10b5-1(c) trading plan.

When was the CMG Form 4 signed and filed?

The Form 4 was signed on 07/08/2025 and covers a transaction dated 07/07/2025.
Chipotle Mexican Grill Inc

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